Posted To: MBS Commentary
It may not be the last time we can say this, but bonds hit their weakest levels of 2017 today--first in the overnight session as European bond markets sold-off, and then again just before 11am. The second sell-off was multi-faceted. Stock market resilience played a role (at the time, it looked like the 9:30 NYSE open may have marked the lows of the day for stocks), as did late day weakness in European bond markets. More than any singular motivation though, bond markets are simply not feeling very well. Broader momentum was on hold over the traditionally illiquid time frame between the 2nd half of December and the 1st half of January. During that time, we enjoyed a nice little correction from the late 2016's pervasive weakness. Yellen's January 18th speech brought the pain back, and...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2jk4rUa
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